Cardamom up 1% on pickup in spot demand

Continuing its rising streak for the third day, cardamom prices rose by 1% to Rs 915.70 per kg in futures trade today as investors widened their bets amid a pickup in physical demand in the domestic spot market.

Besides, restricted supplies amid lower physical arrivals from the major Cardamom producing belts in the country too fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 9.10 or one% to Rs 915.70 per kg in a business turnover of 45 lots.

On similar lines, the spice for delivery in August contracts traded higher by Rs 7.80 or 0.83% to Rs 944.40 per kg in 86 lots.
 
Market analysts said besides rise in demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher at futures trade.